RICHARDSON, TEXAS --a leading provider of enhanced SaaS solutions to the utility industry, announced today it has completed the acquisition of WaterSmart Software, a pioneer in the use of behavioral customer engagement and analytics to drive conservation in the water utility industry, with functionality that is directly applicable to both the electric and gas markets as well.
The acquisition of WaterSmart supports VertexOne’s ongoing strategy of providing its’ utility customers with a complete set of SaaS applications and enhanced services to facilitate critical asset-to-cash business processes. With this acquisition, VertexOne now serves nearly 200 water, electric and gas utilities and 17 million end customers, making it the largest provider of 100% SaaS based software solutions to the North American Utility industry.
“We are excited to welcome WaterSmart and its customers to the VertexOne family. We look forward to expanding upon the great foundation WaterSmart has built to provide superior customer engagement and utility analytics,” said VertexOne CEO Andrew Jornod. “This acquisition solidifies VertexOne’s commitment to serving our utility clients by combining innovative modern technologies with world-class customer service.”
“We are very excited to be joining VertexOne, a well-capitalized and highly respected player in the utility industry. WaterSmart was founded during a California drought on the premise that by using insightful data analytics, both water consumers and utilities can conserve water usage,” said WaterSmart CEO Kevin Kern. “With the continued adoption of advanced metering technologies in the utility industry, the WaterSmart cloud-based platform is redefining how utilities and their customers work together to optimize the use of our precious water resources.”
The WaterSmart acquisition is another sign of VertexOne’s growth momentum. With the addition of WaterSmart, the combined customer bases will have access to VertexOne's breadth of solutions that span the full asset-to-cash spectrum, including customer information systems, customer engagement, meter data management, work and asset management, and electronic bill presentment and payment. Additionally, WaterSmart customers will now have seamless integration with VertexOne’s core solutions.
Headquartered in San Francisco, California, the WaterSmart team is widely regarded as having created the gold standard for water utility customer engagement and data analytics. WaterSmart was recently rated the highest performer, across all competitors, by an independent, third-party assessment of the market.
In August 2019, VertexOne was acquired by DFW Capital, a leading middle market private equity firm that recently closed on its $500 million Fund VI. WaterSmart’s legal advisor on this transaction was DLA Piper. Holland & Knight acted as legal advisor to VertexOne.